The Encyclopedia of Real Estate Forms and Agreements: A Complete Kit of Ready-To-Use Check lists, Worksheets, Forms, and Contracts by Unknown

Author:Unknown
Language: eng
Format: epub
Tags: real estate forms, agreements, contracts, buying, selling, real estate, managing property, brokers, agents, managers
Publisher: Atlantic Publishing Group
Published: 2013-06-28T00:00:00+00:00

Agreement to Cancel Lease

Date: _______________________________ (month, day, year)

Landlord (as listed on the Lease Agreement): ___________________________

Retailer (the successor in interest to Tenant under the Lease Agreement):

____________________________________________________________________

The Retailer has stopped operating a business on the premises and wishes to cancel all of its obligations under the Lease Agreement; and the Landlord is willing to cancel the lease providing the following terms and conditions are met.

The Landlord and the Retailer agree to the following conditions:

1. The Landlord will sign and deliver at closing to Retailer:

(1) a Surrender of Lease form (attached to this document as Exhibit “A”).

(2) an Assignment of Lease and Assumption Agreements form attached to this agreement.

2. The Retailer agrees at closing to:

(1) provide to the Landlord a check for $___________.

(2) sign and deliver to the Landlord a “Bargain and Sale Deed with Covenant Against Grantor’s Acts” form, appended to this agreement, for the property located at:

Street address: _______________________________________________

City: _______________________________ State: ____ Zip:___________

As of the date of closing, title to the property must be legal and insurable according to the requirements of ___________________ Title Insurance Company, at regular rates, free of all liens, encumbrances and conditions, except those that might be detailed in an appendix to this document.

(3) sign and deliver to the Landlord a form, appended to this document, assigning to Landlord all of the Retailer’s right, title, and interest as Lessee in the Lease dated ________________,

between _________________________________________ (Lessor) and

____________________________________________________, (Lessee), for property located at:

Street address: _______________________________________________

City: _______________________________ State: ____ Zip:___________

as described in the Lease, a copy of which is already held by the Landlord.

(4) sign and deliver to the Landlord an assignment of all of Retailer’s right, title and interest as Landlord in the Lease dated _________ (year), between Retailer as Landlord, and ______________________________as Tenant, for property located at:

Street address: _______________________________________________

City: _______________________________ State: ____ Zip:___________

as described in the Lease, a copy of which is already held by the Landlord, together with the sum of $_______ representing the deposit paid by Tenant to the Retailer (as Landlord) on the making of the Lease.

3. Any adjustments, including adjustments for real estate taxes, fuel, and rents, shall be made as of the closing date.

4. The closing shall be held at ____________ (time) __________________ (date) ____________ (year) at the office of: _____________________________________

Street address: _____________________________________________________

City: ________________________________ State: ____ Zip: _______________

5. If the Landlord, after receiving from the Retailer of all of the items required in Paragraph 2 above, fails to sign and deliver a Surrender of Lease as set forth in Paragraph 1 above, the Retailer shall nevertheless be released from all of its obligations under the Lease Agreement as of the closing date given in Paragraph 4.

6. If Retailer fails to supply all of the items required of it in Paragraph 2 above, the Landlord may (1) sue for the Retailer to provide specific legal documents and payments, or (2) cancel this Agreement, in which case the Landlord and Retailer named in this Agreement will no longer be party to this Agreement.

7. The Landlord agrees to accept, in its present condition as of

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